Although the high-profile “life for the elderly” project made headlines in major metropolitan areas such as New York and Washington, DC, this trend is also developing in smaller cities in the United States. A good example is a 24-story retirement of the Nursing Community (CCRC), which recently ended in Norfolk and became the tallest dormitory in Virginia.
Although the project is part of the current growth in the life of the elderly in the city, it can be traced back twenty years ago. At that time, Neil Volder, the community’s developer and CEO, acquired an important piece of land on the port, which was about two miles from the city and adjacent to the regional medical center.
Wald told Advanced Housing News: “That was in 2000, and people are not talking about the tower-not The Clear, not Mirabella. I was fortunate to find a building that has everything that people want today. A great property of the element: the urban living area, only two miles away from all cultural activities.”
Until 2000, Wald had full confidence in his vision of establishing CCRC, and CCRC was more like a high-end hotel than a pension. His trust proved to be reasonable. All the units in the first phase of the CCRC, called Harbor’s Edge, were sold out within 9 weeks. The first residents moved into the Harbor Tower building in 2006.
Wald planned to build a second tower and began serious planning about six years ago. The project is now nearing completion and is scheduled to open next summer. Three, in Dallas, is the architect, and StudioSIX5 is responsible for the interior design.
About 80% of the project has been sold, and Volder believes that the existing CCRC model is attractive even when it involves consumers’ Covid-19 issues. In this regard, he agreed with Mary Leary, the CEO of Mather, who recently shared data on successful sales of the organization’s next skyscraper near Washington, DC.
The new Harbour’s Edge high-rise is called River Tower, and it will bring 147 new houses to the Norfolk Market with open floor plans and floor-to-ceiling windows. The project also added more than 90,000 square feet of shared space. Although the construction work is too advanced to make major project changes along the Covid-19 route, if isolation, large public areas, and large houses prefer social distance and comfortable living activities.
In terms of how to use this standard room, the facilities include a 44-seat theater, a library, a gymnasium used by the tower, a 65,000-foot lobby and an audio-visual room that can accommodate 18 people, and a golf course simulator camera worth $100,000-one A particularly popular feature.
Wald said: “I talked too much, and we got $100,000 in advertising fees.”
Restaurants are an important part of the Harbor Edge lifestyle, and the new building will bring many new restaurants. These include a lobby bar; a restaurant that serves appetizers and main dishes, as well as different regional cuisine; and a pizza oven that can also provide burgers, sandwiches, salads, etc.
The food idea was proposed by Chef Beat Meier, who was trained in Europe and worked as a chef in a private country club in Virginia for 12 years before Richmond, before joining Harbor’s Edge last year
“I have never been to a retirement community, but when I came here, I felt like a luxury hotel (or) country club. That’s how I want to keep going. ”
The new restaurant will be supported by high-quality kitchens that have signed a contract with Meier. The kitchen will be equipped with a combination oven, cooking utensils, and cooking tools under the sight.
In addition to the newly built dining room, the steakhouse-style plot in the harbor tower is currently being constructed as part of a comprehensive renovation of the building, which is being carried out together with the new building. Other planned changes to the Harbour Tower include the creation of a spacious palm lobby.
Wald said: “When building a new extension, many people were told me that people want the new, not the old. This is a community, two towers. ”
The two towers will be merged and connected to the third floor.
Wald said the refurbishment of the port tower totaled $9 million. $2 million to $3 million came from current financial expenditures, and the rest was funded by a package of $200 million, which also provided funds for the construction of the tower. Wald said that the financing provided by HJ Sims through SunTrust and TD Bank is divided into 50% long-term bonds and 50% bank financing, thereby reducing costs.
Harbor’s Edge offers different entry fees and different repayment capabilities, with prices ranging from $300,000 to over $2 million. Harbour’s Edge is run by Volder and is autonomous, but Greystone recently suggested. Wald is considering retiring in the near future, and then someone might consider setting up a management company again.
But even if he is no longer the CEO of Harbor’s Edge, Wald will not fall behind. He kept one of the symbols for himself.
He said that in the past 15 years, 16 years, I have sold so many products that I sold myself.
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